Chapter_1-_Nortel_Case

Chapter_1-_Nortel_Case - Williams MGMT 2008 Chapter 1 -...

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Williams MGMT 2008 Chapter 1 - Management, Nortel Networks Nortel Headquarters, Toronto, Ontario, Canada. When people use the Internet or make calls on their cell phones, the companies providing the Internet and cell phone service are probably using products made by Nortel Networks. With its products used everywhere in the world, Nortel should be performing well. At least that’s what Mike Zafirovski thought before he became Nortel’s new CEO and began working to turn around the financially struggling company. He had hoped that his 25 years at GE, where he ran five of its key businesses, and his five years as the president and chief operating officer at Motorola would have prepared him to be Nortel’s new CEO. But he underestimated the pressures and expectations, as well as the magnitude of problems that were now his responsibility. The most serious problem occurred six months after he became CEO. After the previous management team overreported earnings to trigger corporate bonuses, Nortel had supposedly solved the company’s financial-reporting problems. But now, for the third year in a row, Nortel had incorrectly overestimated its profits and had to report, yet again, that it had earned
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Chapter_1-_Nortel_Case - Williams MGMT 2008 Chapter 1 -...

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